Commissioner of Income Tax v. Navodaya Castles Pvt. Ltd.
What is Commissioner of Income Tax v. Navodaya Castles Pvt. Ltd. authority for?
For an addition under Section 68 relating to share application money or unsecured loans, the Assessing Officer must conduct proper inquiries and rebut the evidence provided by the assessee regarding identity, genuineness, and creditworthiness; additions cannot be sustained merely on suspicion or without investigation if the assessee has discharged its initial onus.
judgments rely on this decision, according to BharatTax’s citation analysis of 366,421 Indian tax judgments — from 2015 to 2026.
Also referred to as
Navodaya Castles · Commissioner of Income Tax v. Navodaya Castles · Section 68 · Section 131 · Section 133(6) · Section 143(3) · share application money · unexplained cash credit · genuineness of transaction · creditworthiness of investors · onus of proof · Assessing Officer enquiries
